Central Bank of Kuwait

IBS to work with Harvard to present education program for banking executives

Sheikh Salem Abdul Aziz Al-Sabah, governor of the Central Bank of Kuwait, chairman of the board of directors of the Kuwait Institute of Banking Studies (IBS), noted that the Kuwait IBS will work with Harvard Business School for the third year in a row to offer an executive education program for banking and finance executives in the GCC (gulf Cooperation Council) region.
Al-Sabah underlined the fact that the program is one of the strategic developmental projects the banking sector is following, conducted by the Central Bank of Kuwait, organized by the IBS and financed by the IBS member banks - Central Bank of Kuwait, National Bank of Kuwait, Gulf Bank, Commercial Bank of Kuwait, Burgan Bank, Al-Ahli Bank of Kuwait, Ahli United Bank, Kuwait International Bank, Industrial Bank of Kuwait and Boubyan Bank.

KFH signs restructuring of debts agreement with Gulf Investment House

Kuwait Finance House (KFH) signed an agreement with Gulf Investment House (GIH) to restructure its debts that reach KD49.5m.
The agreement was supervised by Liquidity Management House (LMH). The collaborators of the agreement were: Boubyan Bank and Burgan Bank.
Mr Emad Al-Thaqeb stated that the agreement comes as part of a program to support local investment companies, which is supported by the Central Bank of Kuwait.

Islamic institutions play pivotal role in financing development plan projects

Kuwait Finance House (KFH) Assistant General Manager (AGM) for Finance Sector Emad Al-Thaqeb stated Islamic banking institutions, including KFH have experience in financing major local and overseas developmental projects. Furthermore, they have strong financial coverage that allows them to meet the financing requirements for the Kuwaiti development plan.
Al-Thaqeb mentioned that the Central Bank of Kuwait took into consideration the requirements of this phase by recommending an increase in the margin of loans in return for deposits at local banks that ranges from 85-100 %.

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